Renaissance Technologies LLC acquired a new position in Nektar Therapeutics (NASDAQ:NKTR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 91,848 shares of the biopharmaceutical company’s stock, valued at approximately $5,485,000. Renaissance Technologies LLC owned 0.06% of Nektar Therapeutics at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of NKTR. Eagle Asset Management Inc. purchased a new stake in Nektar Therapeutics in the 4th quarter worth about $61,577,000. Carillon Tower Advisers Inc. purchased a new stake in Nektar Therapeutics in the 4th quarter worth about $43,024,000. BlackRock Inc. raised its position in Nektar Therapeutics by 2.1% in the 4th quarter. BlackRock Inc. now owns 21,431,388 shares of the biopharmaceutical company’s stock worth $1,279,883,000 after purchasing an additional 431,269 shares during the period. Public Employees Retirement Association of Colorado raised its position in Nektar Therapeutics by 1,207.8% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 381,590 shares of the biopharmaceutical company’s stock worth $22,789,000 after purchasing an additional 352,413 shares during the period. Finally, Jennison Associates LLC purchased a new stake in Nektar Therapeutics in the 4th quarter worth about $15,134,000. 96.22% of the stock is currently owned by institutional investors.
A number of research firms recently weighed in on NKTR. Canaccord Genuity increased their price objective on shares of Nektar Therapeutics to $94.00 and gave the stock a “buy” rating in a research report on Friday, March 2nd. Jefferies Group increased their price objective on shares of Nektar Therapeutics to $103.00 and gave the stock a “buy” rating in a research report on Friday, March 2nd. Mizuho reissued a “buy” rating and issued a $89.00 price objective on shares of Nektar Therapeutics in a research report on Wednesday, February 14th. Piper Jaffray began coverage on shares of Nektar Therapeutics in a research report on Friday. They issued an “overweight” rating and a $125.00 price objective on the stock. Finally, Zacks Investment Research lowered shares of Nektar Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Nektar Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $71.75.
Shares of NASDAQ:NKTR opened at $100.50 on Monday. The company has a market cap of $16,694.14, a PE ratio of -182.73 and a beta of 1.74. Nektar Therapeutics has a one year low of $17.33 and a one year high of $111.36. The company has a debt-to-equity ratio of 2.79, a quick ratio of 5.63 and a current ratio of 5.82.
Nektar Therapeutics (NASDAQ:NKTR) last issued its earnings results on Thursday, March 1st. The biopharmaceutical company reported ($0.21) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.35) by $0.14. The business had revenue of $95.47 million for the quarter, compared to analyst estimates of $36.96 million. Nektar Therapeutics had a negative net margin of 31.42% and a negative return on equity of 156.85%. The company’s quarterly revenue was up 154.9% compared to the same quarter last year. During the same period last year, the company posted ($0.28) earnings per share. sell-side analysts anticipate that Nektar Therapeutics will post -1.33 earnings per share for the current year.
In other news, CEO Howard W. Robin sold 83,333 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $75.82, for a total transaction of $6,318,308.06. Following the transaction, the chief executive officer now directly owns 333,268 shares of the company’s stock, valued at $25,268,379.76. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Maninder Hora sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 5th. The stock was sold at an average price of $101.75, for a total transaction of $2,035,000.00. Following the transaction, the senior vice president now directly owns 127,394 shares in the company, valued at $12,962,339.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 574,592 shares of company stock worth $53,470,081. Corporate insiders own 6.10% of the company’s stock.
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Nektar Therapeutics Company Profile
Nektar Therapeutics, a research-based biopharmaceutical company, discovers and develops drug candidates for cancer, auto-immune disease, and chronic pain based on its PEGylation and polymer conjugate technology platforms in the United States. The company offers ONZEALD, a topoisomerase I inhibitor that is in Phase III clinical trial for advanced metastatic breast cancer in patients with brain metastases; NKTR-181, an orally-available mu-opioid analgesic molecule, which is in Phase III clinical trial for moderate to severe chronic pain; NKTR-214, a cytokine immunostimulatory therapy that is in Phase I/II to treat cancer; NKTR-358, which is in Phase I to treat autoimmune diseases; and NKTR-262 for solid tumors, as well as NKTR-255 that is under research/preclinical stage for immuno-oncology.
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